North American Palladium Restarts Ontario Mine

14 April 2010 (Last Updated April 14th, 2010 18:30)

Canada's North American Palladium has resumed production at its Lac des Iles mine in Ontario. The mine has been under maintenance since October 2008. North American Palladium president William J Biggar said the restart of the mine is well timed to capitalise on recent increase

Canada's North American Palladium has resumed production at its Lac des Iles mine in Ontario.

The mine has been under maintenance since October 2008.

North American Palladium president William J Biggar said the restart of the mine is well timed to capitalise on recent increases in the price of palladium, which now exceeds $520 an ounce.

Ore production from the Roby Underground zone at the mine is currently about 2,000t a day and is expected to increase to 2,600t a day by 1 May.

The company said it aims to produce 140,000oz of palladium a year.

The price of palladium has surged 200% since December 2008.